London, UK 1 January 2008/ 23 Dhu
al-Hijjah 1428: Global Islamic real estate
consultancy Alpha1Estates International
said on January 1 it has begun to
establish the world's first property fund
for the Holy Cities of Makkah and Madinah.
The company, which launched to global
acclaim on January 1 2006, said it has
already begun structuring the Ihsan
al-Haramain One Fund, which will acquire
residential and commercial properties in
the two Holy Cities, currently part of a
$100 billion real estate boom.
"It is only natural that Alpha1Estates
International sets up the first property
fund for Makkah and Madinah, building on a
series of landmarks in real estate in the
Holy Cities," said the company's chief
executive officer, Mr. Talal Mahmood
"The Ihsan al-Haramain Portfolio is the
world's most comprehensive database of
real estate property projects in the two
Holy Cities, and so we will be utilising
our expertise in this market to launch
Though the launch date for the
Shariah-compliant fund is still yet to be
announced, Mr. Talal Mahmood Malik stated
that Alpha1Estates International will be
partnering with firms in Saudi Arabia,
United Arab Emirates and the United
Kingdom to build and launch the fund.
Alpha1Estates International launched in
2006 to become the world's first company
to market property in both Makkah and
Madinah, with its projects ZamZam Tower,
Makkah and Taiba Eastern Tower, Madinah
both centrally located near the two Holy
The announcement of the al-Haramain
property fund on January 1 2008 also
coincides with the launch of Alpha1Estates
International's new website, acclaimed for
its vibrant vision, design and resources.
"I invite people from around the world to
visit our website," said the chief
executive. "Reflecting the ethos of our
real estate company, it has a home page
which has to be seen for not only being
unique but vibrant and beautiful as well,"
said Mr. Talal Mahmood Malik.
New consultancy programmes featured on the
website include 'Pearl of the World',
allowing clients to buy property almost
anywhere in the world, and 'Jewel of the
Nile', a consultancy programme specifially
for real estate acquisition in Egypt.
In 2007, Alpha1Estates International
established sales and marketing operations
in both Cairo, Egypt and Dubai, United
Arab Emirates from its heaquarters in the
Over the past year, CEO Mr. Talal Mahmood
Malik has met the following dignitaries
relating to the work of Alpha1Estates
International in Islamic real estate and
*Mufti Ali Gomaa, mufti of Egypt and the
highest-ranking Islamic scholar in the
*Sheikh Saleh Abdullah Kamel, chairman and
founder of Dallah al-Baraka Group and
President of the Islamic Chamber of
Commerce and Industry, Organisation for
the Islamic Conference (OIC).
*Mr. Tareq Al-Suwaidan, head of al-Resalah
TV (A Prince Alwaleed bin Talal initative)
and CEO of the Gulf Innovation Group.
*Mr. Jeffery Sachs, Special Advisor to
United Nations Secretary-General Ban-ki
*Mr. Iqbal Khan, former founding CEO of
HSBC Amanah and chairman of the executive
committee of Jadwa Investment Bank.
Important events in real estate and global
commerce which have been attended by the
management and staff of Alpha1Estates
International include Cityscape Dubai, the
world's largest real estate trade event,
Leaders in Dubai featuring marketing
management expert Philip Kotler and
entrepreneur Sir Richard Branson and
DIFCweek (Dubai International Financial
Centre) led by Jeffrey Sachs.